We create multiple accounts over the span of our life. Remembering passwords for each account can be a challenging task. But don't worry, we have created a simple and innovative Account Recovery system where your Trusted Parties can assist.
Why do we need Account Recovery?
Account Recovery is a process that can dabble between the adequate provision of security and the absolute frustration of being able to break through countless barriers simply to access your own information again. Some of the biggest companies in the world have rigorous account recovery methods. One look at a Reddit thread gives you all you need to know about the frustration users have.
At LifeReady, we don't want to brag, but we think we might have come up with a pretty smart Account Recovery method that works smarter (not harder) for you to access your information. You see, by virtue of the platform being built on our patented KeyCrypt technology which provides complete security and the requirement of adding Trusted Parties to your Vault, all you need to do is set-up your Trusted Party Account Recovery.
We have made it easier for you to recover your account details, without compromising on security.
Who are Trusted Parties?
Trusted Parties can range from loved ones (spouse, sibling, child, close friend) to Professional Advisors (Lawyers, Accountants and Executors). As well as having access to your Records if something happens to you, these people can also help to recover your account if you forget your password and act on your behalf in the case of an emergency.
How does Trusted Party Account Recovery work?
This functionality allows you to access your account by using your Trusted Parties to verify your identity. For example, if you lose access to your account (forgotten your password and login details) and are not able to recover it yourself, your Trusted Parties will be able to assist you.
The way it works is that Trusted Parties receive a notification letting them know that you are trying to recover your account. They have the option to approve or deny your request.
Note: It's important to contact your Trusted Parties and let them know that you are trying to recover your account to ensure they are aware that it is not a scam.
How to set it up?
You can easily set this up via the Security Centre section of the platform. We highly recommend you set this functionality up to have all your bases covered! A minimum of 2 Trusted Parties need to be added, with a maximum of 5. At the time of recovery, any 2 Trusted Parties are required to provide approval for your account to be recovered.
Why is this important?
Sharing the key to your most critical life information with the most trusted person in your life allows you to relieve the burden of finding information relating to key assets, passwords, access to accounts and more. Not being able to recover your account can result in permanent data loss if you forget your password.
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If you would like to learn more about how LifeReady can help you organise, store and share your important life information, or to try out our platform contact us here: lifeready.io